Corporate News
Refex Renewables & Infrastructure Limited is seeking shareholder approval for a preferential allotment of shares to North Star Opportunities Fund VCC – Bull Value Incorporated VCC Sub-Fund Mauritius, a Mauritius-based entity with Mr. Issam Ali Baqer as the ultimate beneficial owner. The allotment, requiring a special resolution under SEBI ICDR Regulations, will increase the total outstanding shares from 45,01,873 to 49,51,873. The newly allotted shares will have a six-month lock-in period from the date of trading approval and rank equally with existing shares regarding dividends and voting rights. The company confirms compliance with applicable regulations and that its promoters and directors are not willful defaulters or fraudulent borrowers, and the board recommends shareholder approval.